Spirit of America Management Corp NY cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 187,070 shares of the computer hardware maker's stock after selling 15,900 shares during the quarter. NVIDIA accounts for 4.1% of Spirit of America Management Corp NY's portfolio, making the stock its biggest holding. Spirit of America Management Corp NY's holdings in NVIDIA were worth $20,275,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in NVDA. Norges Bank bought a new stake in shares of NVIDIA during the 4th quarter valued at $43,515,504,000. GAMMA Investing LLC grew its stake in shares of NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares during the period. Northern Trust Corp grew its stake in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Proficio Capital Partners LLC increased its holdings in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock valued at $3,864,026,000 after buying an additional 23,948,733 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.
NVIDIA Stock Performance
NVIDIA stock traded up $2.88 during midday trading on Wednesday, reaching $162.88. 182,635,717 shares of the company's stock were exchanged, compared to its average volume of 267,107,945. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $164.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a market cap of $3.97 trillion, a price-to-earnings ratio of 52.54, a P/E/G ratio of 1.40 and a beta of 2.13. The stock's 50-day simple moving average is $138.39 and its 200 day simple moving average is $128.20.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the business earned $0.61 earnings per share. The company's revenue was up 69.2% on a year-over-year basis. On average, analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio is 1.29%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on NVDA shares. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Barclays upped their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research report on Tuesday, June 17th. TD Cowen lifted their target price on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Finally, UBS Group reiterated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $176.47.
Check Out Our Latest Research Report on NVIDIA
Insider Transactions at NVIDIA
In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,296,844 shares of company stock valued at $624,019,677. Corporate insiders own 4.17% of the company's stock.
NVIDIA Profile
(
Free Report)
NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.
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